Diamondback Energy (NASDAQ:FANG) Price Target Raised to $170.00 at Citigroup

Diamondback Energy (NASDAQ:FANGGet Rating) had its target price raised by Citigroup from $155.00 to $170.00 in a research note released on Tuesday morning, The Fly reports.

FANG has been the topic of several other research reports. Truist Financial boosted their target price on shares of Diamondback Energy from $203.00 to $209.00 and gave the company a buy rating in a research note on Friday, November 18th. Raymond James boosted their target price on shares of Diamondback Energy from $190.00 to $200.00 and gave the company a strong-buy rating in a research note on Monday, October 24th. MKM Partners boosted their target price on shares of Diamondback Energy to $170.00 in a research note on Tuesday, November 15th. Morgan Stanley boosted their target price on shares of Diamondback Energy from $170.00 to $175.00 and gave the company an overweight rating in a research note on Monday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research report on Wednesday, October 19th. They set a hold rating and a $159.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $181.85.

Diamondback Energy Stock Up 1.0 %

Shares of NASDAQ:FANG opened at $151.44 on Tuesday. Diamondback Energy has a 52 week low of $95.02 and a 52 week high of $168.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.61. The company’s fifty day moving average is $144.49 and its 200-day moving average is $135.37. The company has a market capitalization of $26.65 billion, a PE ratio of 6.17, a P/E/G ratio of 0.29 and a beta of 2.06.

Diamondback Energy Dividend Announcement

The company also recently disclosed a None dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 17th will be issued a dividend of $2.26 per share. The ex-dividend date is Wednesday, November 16th. This represents a yield of 4.7%. Diamondback Energy’s dividend payout ratio is currently 12.22%.

Diamondback Energy announced that its Board of Directors has authorized a stock buyback program on Monday, August 1st that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the oil and natural gas company to repurchase up to 17.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Diamondback Energy

A number of institutional investors and hedge funds have recently modified their holdings of FANG. Atria Investments LLC increased its stake in shares of Diamondback Energy by 20.0% in the 1st quarter. Atria Investments LLC now owns 12,037 shares of the oil and natural gas company’s stock valued at $1,650,000 after acquiring an additional 2,007 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Diamondback Energy by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 22,727 shares of the oil and natural gas company’s stock valued at $3,115,000 after acquiring an additional 240 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $205,000. National Asset Management Inc. bought a new stake in shares of Diamondback Energy in the 1st quarter valued at about $415,000. Finally, FDx Advisors Inc. increased its stake in shares of Diamondback Energy by 141.2% in the 1st quarter. FDx Advisors Inc. now owns 6,902 shares of the oil and natural gas company’s stock valued at $946,000 after acquiring an additional 4,041 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Diamondback Energy Company Profile

(Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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